Range Resistance May Slow Advance Toward Highs

Together, the above indications point to a likely continuation of the bull trend as gold heads towards the record high of $4,550. However, despite the clear signs of strengthening, gold remains within a trading range established by a wide range bearish red candle from December 29 that formed following the high. It represents a range of potential selling pressure, which could impact momentum in the current advance and lead to further corrective behavior for the precious metal. This is not a prediction but rather a pattern to be aware off that could hobble the attempt at new highs.

20-Day and Channel Support Reinforce Bull Trend

Regardless, dynamic support for the bull trend was confirmed on Monday with a bounce off support near the 20-day average, which is bullish behavior at a key trend indicator. In addition, the recent pullback following a new record high was minor with support confirmed at the top trendline of a rising trend channel. It shows bullish momentum improving with as the overall rate of ascent increases. The fact that the 20-day line and top channel line – both long-term levels – also marked the same area of support near the pullback low of $4,274, is bullish behavior.

Confluence Zones Define Next Upside Targets

The first new high target zone is identified by the confluence of several indicator. An initial price range goes from around $4,664 to $4,713. Also, a little higher is a level at $4,766. Other than $4,687, which is the 161.8% extension of the recent bearish correction, the price levels are derived from long-term measurements. If the top level is eventually exceeded, gold looks like it will head to $4,942, which is the 450% extension of the 2011 bearish correction.

For a look at all of today’s economic events, check out our economic calendar.

The GBPJPY pair ended the last bullish rally by recording 212.15 level, to bounce directly to settle near 211.30, which formed strong obstacle against the bullish attempts.

Note that the stability within the main bullish levels and forming extra support at 211.30 level, which makes us wait for gathering bullish momentum to reinforce the chances of recording the target at 212.55 and surpassing it might extend trading towards 213.75, while reaching below 211.30 and providing negative close will confirm delaying the bullish attack, to begin forming temporary corrective wave, to target 210.65 and 209.90 level.

The expected trading range for today is between 211.00 and 212.50

Trend forecast: Bullish

Platinum price ended the last bullish rally by facing the historical high near$2467.70, forming strong resistance to begin forming bearish corrective waves by its stability near $2340.00.

Despite the attempts of the main indicators to provide positive momentum, the continued fluctuation below the current top supports the chances of renewing the corrective attempts, which might target $2260.00 and $2185.00, while breaching the top and holding above it will reinforce the chances of recording historical gains by its rally towards $2525.00. 

The expected trading range for today is between $2260.00 and $2410.00

Trend forecast: Bearish

Break Below 200-Day Average Confirms Seller Control

Natural gas fell below the long-term trend indicator, the 200-day average, on Monday and closed below it thereby confirming the breakdown. Today’s clear bearish response shows the sellers continue to dominate despite a potential bullish hammer candle that formed yesterday. A low-end target is at the lower long-term uptrend line, currently at approximately $3.01. Failure of the 200-day average shows selling pressure at a degree that could see the lower uptrend line eventually reached and possibly lower levels.

ABCD Pattern Targets and Lower Trendline Risk

However, the next lower target zone is around $3.26 to $3.24 (D), consisting of a 78.6% projected target for a falling ABCD pattern and a 78.6% Fibonacci retracement of the full upswing from the August low. Given weakness today, it looks like that target will likely be reached before the bulls take back control. If it fails, then the lower trendline becomes a target. And if that line fails to reverse the descent a 100% projection for the ABCD pattern shows a potential target below the long-term uptrend line at $2.89.

Monthly Support Confluence Near Next Target Zone

It is interesting to note that the 20-month moving average is at $3.31 currently, near the next potential support zone. That means that the monthly chart also indicates potential support around the next lower price zone and therefore enhances the potential significance of that price zone.

Upside Scenarios Require Reclaim of Key Averages

On the upside, a rally above Monday’s high of $3.53 heads towards the 200-day average, now at $3.56. A daily close above the 200-day line would be needed to confirm strength, while Friday’s high of $3.70 being the first upside target, followed by a swing low at $3.80 (B). The 10-day average would then be next. It is now at $3.92 and falling.

For a look at all of today’s economic events, check out our economic calendar.

ASML Holding N.V. (ASML) stock price recorded further gains in its latest intraday trading, confirming a breakout above the key resistance level at $1,141.70. This move comes amid the dominance of the main medium-term upward trend, with price action moving along both major and minor supportive trend lines, alongside dynamic support from trading above its SMA50. In addition, positive signals continue to flow from the RSI, all accompanied by a noticeable increase in trading volumes.

Therefore we expect the stock price to continue rising in upcoming trading, as long as it remains stable above the $1,141.70 level, to target the first resistance at $1,300.

Today’s price forecast: Bullish

New York, Jan 6, 2026, 06:31 EST — Premarket

• United States Natural Gas Fund (UNG) was down about 2.2% in premarket trade after falling 3.6% on Monday. StockAnalysis
• U.S. natural gas futures were down 2.7% early Tuesday, extending a weather-led pullback. Investing
• Traders are looking to the U.S. storage report due Jan. 8 for the next demand signal. U.S. Energy Information Administration

The United States Natural Gas Fund slipped again in premarket trading on Tuesday as U.S. natural gas futures fell amid forecasts for warmer-than-normal weather. UNG was down 2.2% at $11.37 before the open. StockAnalysis

U.S. natural gas futures were down 2.7% at $3.427 per million British thermal units (mmBtu), a common benchmark unit for gas pricing. The pullback keeps pressure on natural-gas-linked funds that trade like stocks. Investing

The move matters now because winter weather is the main swing factor for U.S. heating demand, and traders have been repricing the balance as temperature models change. UNG is designed to track daily percentage moves tied to Henry Hub natural gas via near-term futures. Hellenicshippingnews

On Monday, front-month natural gas futures for February delivery on the New York Mercantile Exchange (NYMEX) fell 5.7% to $3.41 per mmBtu, marking a fourth straight session of losses, as of mid-morning. Hellenicshippingnews

Meteorologists are calling for warmer-than-average temperatures across the nation through Jan. 20, Reuters reported. Heating Degree Days (HDDs) — a gauge of how much energy is needed to heat buildings — were projected well below the 30-year normal. Hellenicshippingnews

Supply is still running high. LSEG forecast average gas demand, including exports, in the Lower 48 states at 133.0 billion cubic feet per day (bcfd) this week, rising to 134.2 bcfd next week; output averaged 109.2 bcfd so far in January, still below December’s record, it said. Hellenicshippingnews

LNG, or liquefied natural gas, remains the key offset for bulls. Gas flows to the eight large U.S. LNG export plants averaged 18.8 bcfd so far in January, above December’s record of 18.4 bcfd, LSEG said. Hellenicshippingnews

“This market is dropping into fresh new low territory this morning,” consultancy Ritterbusch & Associates said in a note, adding that downside risk in nearby futures extends to the $3.00 area without weather support. Hellenicshippingnews

For investors looking for alternatives, UNG’s sister fund, the United States 12 Month Natural Gas Fund (UNL), spreads exposure across 12 consecutive NYMEX contract months, rather than concentrating in the front month. USCF Investments